Two years after finding itself in the teeth of the credit crisis, Dubai is back. At least on one measure.
For Jumeirah Group, one of the Gulf state's leading hotel operators, revenue per available room over the holiday period was back above the highs reached in 2007.
Gerald Lawless, executive chairman of the group, which has 2,600 rooms at hotels in Dubai, including the famous Burj Al Arab, told The Wall Street Journal in Davos that vacationers from the U.K., Germany and Russia helped underpin the rebound. Revenues per room remain somewhat volatile, but they dropped by about a quarter during the credit crisis, which had caused financial distress in highly leveraged Dubai.
The other nationality of travelers that Mr. Lawless is looking to for a boost: Chinese celebrating the coming New Year.
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